Enterprises are the profit of a company, which is received after deducting all tax payments, wages workers and other passive contributions. The company can distribute its own profit among the founders (a joint stock company will distribute it among shareholders in proportion to the number of shares each has) or include it in order to expand the scale of activity.

The value of the volume of own profit

Depending on the degree of development of the company, the volume of work performed and market well-being, your own profit may vary. Sometimes the volumes do not differ much, sometimes (especially in conditions of economic restructuring) they may differ by several tens of percent in different reporting periods. What are the functions of own profit other than remuneration to the founders of the company?

The first function is that your own profit can increase negotiable enterprise. In many joint stock companies By voting at the Board of Directors, a decision is made not to pay dividends, but to use them to increase production volumes. Once invested, your own profit can significantly increase the profit of subsequent years or quarters. If you make absolutely no investments, most likely your profits will decrease.

The second function is that depending on the volume of its own profit, the company’s popularity for investors can be different. Magnit company on Russian market food trade has reached enormous proportions in a short period of time. Magnit's own profit grew steadily, several times taking first place in terms of annual growth. Of course, investors began to look at the company more closely, and the volume of investments increased. If your own profit did not grow at all (as happens in the initial stages of business development), then there would be no stunning success.

The third function is that the company’s own profit affects its exchange rates. valuable papers, if any are issued. If we analyze the main stages of development of the Gazprom company, we can note the steady dynamics of growth in the share price, which increased simultaneously with the company’s own profit. Now many investors are talking about the lack of prospects for long-term investment in Gazprom, because its own profits are not increasing as much as before (due to the escalating situation of the economic crisis).

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1.2. Profit and cash flow

The content of the first paragraph leads to an understanding of a very simple and important truth - the increase in the wealth of business owners is manifested in an increase in equity capital. In financial and economic literature and business practice, this increase is called profit. The only way achieving such an increase (with the exception of attracting new contributions to the authorized capital) is an increase in the value of the enterprise’s assets. In other words, profit is an increase in equity capital due to an increase in the value of the enterprise's assets. The main idea underlying this provision can be illustrated by the following simple example (assume that the company does not use borrowed funds) (Fig. 1.2.1).

Figure 1.2.1. Profit generation mechanism

As can be seen from the diagram, the initial value of the enterprise's assets was 1000. Having sold goods at more than its cost, the enterprise increased the value of its assets to 1200. This operation upset the balance sheet, because the enterprise did not have a corresponding obligation for the amount of the difference between the cost and the selling price. To restore balance, a new item “Profit” was introduced into the equity capital, the amount of which (200) is equal to this difference. As a result, the enterprise's equity capital amounted to 1200. The owners of the enterprise became richer by the amount of profit received.

It is important to understand the essence of the technique used to take profit: it acts as a weight that is thrown onto the opposite side of the scale to balance it. The rise in price of assets, manifested in the fact that their selling price turned out to be higher than the acquisition costs, was transformed into an increase in the item reflecting the share of owners in the capital of the enterprise. The amount of profit reinvested (capitalized) by the owners will be reflected in the balance sheet of the enterprise as retained earnings. Together with the authorized capital (the value of which does not change without re-registration of the constituent documents), retained earnings constitute the equity capital of the enterprise. If the owners reinvest profits from year to year, then each new amount is added to that already reflected in the balance sheet, i.e. Retained earnings accumulate. Thus, equity capital can be represented as a combination of two parts: relatively constant (authorized capital) and variable (accumulated retained earnings).

Changes in the variable part of equity capital do not necessarily occur only in the direction of its increase. If a loss is incurred in the reporting year, its amount is deducted from the amount of previously accumulated retained earnings. If the amount of the loss exceeds the amount of previously reinvested profit, then the excess loss is reflected in the same item (accumulated profit), but with a negative sign. This result indicates that the enterprise is “eating away” its authorized capital. In the case of constant losses from year to year, the enterprise (if it has not yet gone bankrupt by that time) must officially reduce its authorized capital by the amount of accumulated losses.

“An increase in the value of assets”, as a result of which profit arises, is a fairly general concept. In particular, it involves an increase in the price of property due to the action of external factors, for example, an increase in the exchange rate of the foreign currency available to an enterprise occurs regardless of the efforts of the enterprise itself. However, this asset becomes more expensive and the company makes a profit. Theoretically, one can imagine a situation where an enterprise makes a profit without “undertaking” anything, only due to the influence of such external factors. Economic theory dispels these hopes. In market conditions, it is impossible to obtain benefits for a long time using only your advantageous position in any area: a unique asset structure, monopoly ownership of technologies, etc. Competition will very quickly equalize the starting capabilities of all enterprises in a given industry or geographic region. This truth is obvious to entrepreneurs and managers, so the enterprises they create and manage do not stop their active operations even for a second, trying to squeeze the maximum possible profit out of each operation.

Another axiom of business is the need to make expenses in advance in order to receive a return on them in the future. Thus, the activity of the enterprise is divided into a large number of parallel business operations (transactions), accompanied by expenses, which must subsequently be recouped from the income received. By summing up the total income from these operations for a certain period of time (for example, a year) and comparing them with the gross expenses of the enterprise for the same period, the amount of profit for the period is determined. This amount will be exactly equal to the profit calculated as the increase in the value of equity capital. Having slightly modified Fig. 1.2.1, we get the following profit generation scheme (Fig. 1.2.2).

Rice. 1.2.2. Formation of profit as the difference between income and expenses

Consequently, in financial management, the profit of an enterprise is interpreted, firstly, as an increase in equity capital, which occurs due to the appreciation of assets; secondly, how the excess of the enterprise's gross income for the reporting period over its gross expenses. In fact, these interpretations are identical, since the rise in price of any asset occurs due to the excess of income from its sale over the costs of its acquisition and preparation for sale. In any case, the prerequisite for profit is the ability of the enterprise to sell its assets. The moment of sale is the point at which the real increase in the value of the asset is recorded. The lack of sales makes attempts to determine the real value of an asset pointless: the result will always be a certain theoretical value, the validity of which can only be confirmed in one way - by obtaining the buyer’s consent to purchase the asset for a certain price.

Various approaches to determining profit determine the structure of an enterprise's financial statements. It consists of two main reports: balance sheet And Profits and Losses Report. Each of them reflects the amount of reinvested profits. The balance sheet shows the amount of retained earnings accumulated over the entire period of operation of the enterprise, and the income statement calculates the amount of net and then reinvested profit of the reporting year. retained earnings in the income statement, should be equal to the difference between the amount of accumulated profit on the balance sheet at the end of the year and the same balance sheet indicator at the beginning of the reporting year. The relationship between the two main forms of financial reporting is presented in the diagram (Fig. 1.2.3). The reports are presented in the diagram in a simplified form, without sufficient detail. However, the diagram reflects not only the nature of the connections between the two reports, but also their internal structure. Thus, the income statement is characterized by a stepped form of presentation of information. This report reflects the consistent transition from the total revenue of the enterprise to various indicators of profit: from sales, from financial economic activity, gross profit of the reporting period, net and reinvested profit.

Figure 1.2.3. Diagram of the relationship between the balance sheet and the income statement

All the examples discussed above contain an assumption that identifies the enterprise’s costs and its income on the one hand and cash flow on the other. This assumption was made to make the examples clearer, but it greatly simplifies the real situation. In accounting theory there is principle of temporary certainty of facts of economic activity. For short, it is often called the accrual principle. The essence of this principle boils down to the fact that expenses are considered committed and income received not when the enterprise spends the corresponding sums of money or they are credited to its current account (cash), but in the period when the business transaction took place that led to the occurrence of expenses or income. For example, the consumption of materials for production is recorded in accounting in the month when actual materials were received from the warehouse and processed in production. The moment of payment of the supplier's invoice for these materials does not necessarily coincide with this period - the invoice may be paid earlier (prepayment) or much later (commercial loan). A similar situation is observed in relation to employee wages, which are attributed to costs at the time of accrual and not payment. In the same way, receipt of proceeds from sales occurs not at the moment of crediting money to the seller’s account, but at the moment the goods are released and the invoice is presented to the buyer.

In the structure of product costs, there are costs that do not entail cash payments at all. These include depreciation deductions for fixed assets and intangible assets. The depreciable objects themselves were acquired earlier through investments long-term capital, that is, the money has already been spent on their purchase. Nevertheless, the accounting department monthly increases the cost of products sold by the amount of deductions from initial cost these objects. This allows, on the one hand, to reflect the physical and moral wear and tear of fixed capital in accounting, and, on the other hand, to form a cash fund for the possible replacement of obsolete objects in the future. Expenses from this fund will no longer need to be included in the cost of production, because they will represent new investments. Consequently, the amount of accrued depreciation reduces the profit of the enterprise, but does not in any way affect the volume of its cash expenses.

Taking into account the above, it becomes clear that determining the financial result of a specific business transaction is by no means as simple a task as it might seem at first glance. Even with ideal accounting, when selling its products or goods, an enterprise does not actually have information about the history of all cash payments associated with this operation. Data on the actual cost of a product reflects a complex conglomerate of various accruals, averaging and other accounting tricks, but in no case the sum of all cash payments related to this product. At least half of the costs included in the cost of a product are indirect in nature, not directly related to it: general business expenses, security costs, etc. The company’s choice of accounting policy has a huge impact on the financial result: the method of valuing inventories and determining their actual cost, methods of calculating depreciation, options for distributing indirect costs, methods of valuing work in progress, etc. However, identifying the amount of profit in accounting is based precisely on the principles discussed above. It is tacitly assumed that accounting is still capable of solving the fundamentally intractable problem of accurately identifying all the cash expenses related to a given transaction, therefore actual cost reflects all real costs, and the profit reflected in accounting is the actual value of the increase in the enterprise's equity capital.

If such an assumption had only theoretical value, then the proof of its correctness or fallacy could last for centuries, just like the discussion about the true nature of value. However, along with the theoretical, there is a very important practical aspect of this problem: there are a number of economic entities that associate very specific financial consequences for their well-being with the figures reflected in the enterprise’s reporting. These entities include primarily the owners of the enterprise, as well as its creditors, counterparties, tax authorities and a number of other categories of citizens and organizations. All of them are united by a single and very understandable desire - to receive money from this enterprise. Gross profit reflected in the income statement is the initial basis for calculating the amount of income tax; net profit is the subject of division between the owners of the enterprise; short-term liabilities reflected in the balance sheet conceal specific obligations to very specific individuals who did not lend to the enterprise out of philanthropic motives. The only way an enterprise can make final confirmation of the reliability of its reporting data is to make all payments required by law in the form money transfers. To do this, it must be able to convert all its reported income into cash. IN otherwise he faces bankruptcy due to insolvency.

The movement of funds received and spent by an enterprise in cash and non-cash form is called in financial management cash flows. These flows are of two types: positive and negative. Positive flows(inflows) reflect the flow of money into the enterprise, negative(outflows) – the disposal or expenditure of money by an enterprise. Transfers of money from a cash register to a current account and similar internal movements of money are not considered cash flows. The most important condition for the emergence of cash flow is its crossing the conditional “border” of the enterprise. The difference between gross cash inflows and outflows over a certain period of time is called net cash flow. It can also be positive or negative (inflow or outflow).

Unlike profits and costs, cash flows have a specific nature. If the accounting profit figure is based on numerous, often very conventional calculations, the cash flow is always obvious - it is enough to balance the inflows and outflows (each element of which is confirmed by a bank statement or cash document) to obtain the final net cash flow. This indicator is international - the language of money is understood everywhere in the world. Attempts to introduce elements of national or ideological specificity into monetary relations are doomed to failure: Cuba failed to refuse money, having banned its circulation in the 60s; Numerous attempts to create total planned systems in which money is given an auxiliary role as a means of payment have been unsuccessful; Various barter schemes involving widespread in-kind exchange between economic entities have completely compromised themselves (including in Russia). Therefore, in finance, any asset or business operation is assessed primarily from the point of view of the magnitude and direction of cash flows generated by the asset or operation. A transaction that does not affect the cash flows of the enterprise is not of financial interest. However, it is very difficult to give an example of transactions that do not involve changes in cash flows.

All cash flows of an enterprise are combined into three main groups: flows from operating, investing and financing activities. The main source of cash income for the enterprise is its main activity - production and sale of products for the plant, retail for a store, etc. Many enterprises simultaneously carry out several types of activities, combining production with intermediary operations or the provision of other services. Nevertheless, activities of this kind are often designated by a single term - production or operating room. Cash flows from this activity (revenue from sales, payment of bills to suppliers, payment of wages) are the most regular, since they service ongoing operations that are repeated from month to month.

Along with carrying out routine business operations, an enterprise periodically faces the need to purchase new or sell outdated equipment, or make long-term investments of a different nature. In addition, activities related to attracting additional equity or borrowed capital are important. Each of these transactions generates corresponding cash flows, which, despite their less regular nature, can have a significant impact on the amount of total cash flow of the enterprise.

Inflows from operating activities are formed from proceeds from sales of products (works, services), repayment accounts receivable received from advance buyers. Operating outflows include payment of invoices to suppliers and contractors, payment of wages, payments to the budget and extra-budgetary funds, and payment of interest on loans. This list includes almost all current operations of the enterprise related to the use of working capital.

Under investment activities In world practice, the activity of an enterprise in making long-term investments is understood, and not only real ones are taken into account. but also long-term financial investments. Cash outflows from investment activities include payment for acquired fixed assets, capital investments in the construction of new facilities, acquisition of enterprises or blocks of their shares (shares in capital) for the purpose of generating income or to exercise control over their activities, provision of long-term loans to other enterprises. Accordingly, investment inflows are formed from proceeds from the sale of fixed assets or unfinished construction, the cost of sold blocks of shares of other enterprises, the amount of repayment of long-term loans, the amount of dividends received by the enterprise during its ownership of blocks of shares or interest paid by debtors during the use of long-term loans.

TO financial activities include operations to form the capital of the enterprise. Financial inflows are amounts received from the placement of new shares or bonds, short-term and long-term loans received from banks or other enterprises, and targeted financing from various sources. Outflows include repayment of loans and credits, repayment of bonds, repurchase of own shares, and payment of dividends. This section concentrates on external sources of financing that are relatively independent from the main activities of the enterprise. It should be noted that financial transactions include both long-term and short-term loans and bank loans received by the enterprise (including debt on bills). However, all expenses for paying interest on a loan (regardless of its term) relate to the operating activities of the enterprise.

Grouping an enterprise's cash flows by type of activity significantly increases the analytical nature of reporting information. A financial manager (or lender) can see which sources bring the largest cash flows to the enterprise and which ones consume them in greater volumes. For a normally functioning enterprise, the total net cash flow should tend to zero, that is, all earned in reporting period cash must be effectively invested. However, there are different ways to achieve this result: operating activities can generate significant net cash inflow, which the company uses to expand fixed assets. But the opposite situation is also possible - by selling part of its fixed capital, the enterprise thereby covers the net cash outflow from operating activities. The latter option is extremely undesirable for an enterprise, since the main source of funds should be its main operating activities, and not the sale of property.

The division of cash flows into operating, investment and financial components is determined solely by the needs of financial management. This approach does not provide for the allocation of “productive” and “unproductive” expenses. If a large industrial enterprise has a retail store on its balance sheet, then the amount of revenue from the sale of goods there will be included in the general operating flow of the entire enterprise. Widespread in statistical reporting The distinction between “core” and “non-core” activities is not taken into account when calculating cash flows. There is also no provision for reflecting the “social” activities of the enterprise. Any acquisition of fixed assets will be shown as an investment activity; any cash expenditures will be classified as production or financial outflows. The only form of “unproductive” spending of funds is the payment of dividends from the net profit of the enterprise. IN in this case reflects the fact that the owners of the enterprise receive the part of the results of its activities due to them - net profit.

These principles are not entirely consistent with Russian practice, when the state prescribes to enterprises from which specific sources - production costs or net profit - the enterprise should finance certain expenses. In other words, the state, in addition to its legal share in the final product (income tax), snatches in the process of division a fair chunk of what should belong only to the owners - net profit. This approach is so deeply rooted in public consciousness that the question of its legality arises very rarely. For example, it is considered completely natural that an enterprise’s expenses on advertising within the limits of the official norm are productive expenses and can be excluded from the tax base, and everything spent on advertising in excess of this norm cannot reduce the amount of income tax, that is, it must be paid from the net arrived. A similar approach has developed to the so-called “social” expenses of an enterprise. Consequently, when investing their money in the equity capital of an enterprise, the investor must remember that the officially established income tax rate does not reflect all the real expenses that the enterprise will have to incur before it can pay it for dividends. It is not surprising that there is a lack of enthusiasm among potential investors regarding investing in Russian enterprises.

One type of cash flow is liquid cash flow, representing the change in the enterprise's net credit position for the year. Net credit position- this is the difference between the amount of short-term and long-term bank loans and the availability of funds at the enterprise. It shows whether the company has excess cash to cover obligations remaining after repaying bank loans. If we denote long-term bank loans as Dk, short-term ones as Kk, and the cash balance as Ds, then the net credit position (NCP) can be determined by the formula:

Chkp = (Dk + Kk) – Ds (1)

Denoting the balances at the beginning of the year with the subscript 0, and the balances at the end of the year with the subscript 1, we obtain a formula for determining liquid cash flow (LCF):

Ldp = – (Chkp 1 – Chkp 0) (2)

This indicator links cash flow with the efficiency of using bank loans. To a certain extent, it characterizes the liquidity of the enterprise. Its value will be approximately equal to the total cash flow from operating and investing activities (since the influence of major financial factors is excluded).

In accordance with international accounting standards cash flow statement is included in the financial statements of the enterprise as a main document along with balance sheet and profit and loss statement. The relationship between these three reports is shown in Figure 1.2.4. Russian enterprises draw up a Cash Flow Statement (form No. 4). This document does not yet have the status of a main report; the methodology for its preparation is not sufficiently specified. Therefore, it has not yet become as valuable a source of information as its foreign counterpart, the cash flow statement. There is no doubt that for Russian consumers of reporting information, reliable and detailed information on cash flows is no less valuable than for users of reporting in other countries.

Figure 1.2.4. Relationship between main financial statements

It is very important to understand that cash flows should in no case be opposed to such economic categories as profit or cost. A profitable enterprise (if this profit is the real result of its activities, and not the result of manipulations with financial statements) is able to generate sufficient cash flows to pay off obligations and new investments. An unprofitable business may meet all its cash needs for a time (by selling off inventory and equipment, reckless borrowing, or failing to pay accounts payable), but eventually it will inevitably run into cash shortages. By focusing on the cash flows of an enterprise, financial management does not abstract from other economic indicators of its activities. The task of financial management is to identify the causes of discrepancies between the movement of value and the movement of money, assess the revealed facts and develop measures to eliminate existing shortcomings. The solution to this problem is facilitated by the use of the concept of financial resources.

Any organization in market economy works for the purpose of making a profit. This is its financial result, which characterizes the efficiency of the company. Indicators of profitability and financial stability depend on its value.

It happens according to a certain pattern. It is established at the legislative level and depends on the characteristics of the organization. To be able to manage the profit indicator, it is necessary to understand the mechanism of its formation, as well as distribution.

General concept

Profit is a financial indicator that is formed as a result of the company's activities. This is the part of the revenue that remains in the company after taking into account all costs. IN general view The profit formula looks like this:

P = D - Z, where D is income in the operating period, Z is the costs of the operating period.

If, as a result of calculations, the indicator has a positive value, then the company worked effectively in the period under review. Negative indicator indicates that the organization's activities were unprofitable. In the current period, expenses exceeded income. This indicates errors in the planning and management process. In some cases, revenues may equal costs. In this case, we can assume that the company is breaking even.

Is one of the most important indicators efficiency and feasibility of the company's activities. This is the primary goal of an enterprise in a market economy.

The organization finances its development through profits. These funds are used to pay for the purchase of new equipment, scientific developments are carried out, etc. In the process of managing an organization, all indicators are optimized in such a way that the amount of profit is maximized.

The presented indicator performs several important functions. It characterizes the economic effect of the enterprise and stimulates all types of activities of the organization. All types of budgets are formed on the basis of profit. This indicator also summarizes the performance of the enterprise.

Types of profit

Each company conducts accounting for the formation and distribution of profits. In order to understand the mechanism of its occurrence, to understand the degree of influence of each factor on its formation, several types of company performance indicators are distinguished.

First of all, it is worth noting such varieties as total profit and after-tax indicator. The second type is also called net profit. General indicator called balance sheet. This is the sum of the company’s financial result, obtained from all types of its activities (production, investment, financial) before distribution and taxation.

After paying all taxes, the company is left with an amount of funds that it has the right to dispose of at its own discretion. This is pure profit. It is this that the enterprise subsequently distributes among the owners or directs towards its further development.

The concepts of operating, gross and marginal profit are also distinguished. Consideration of each indicator allows us to identify factors limiting development and plan the company’s effective operation in the future.

The concept of gross profit is used by financial analysts in both foreign and domestic companies. the gross will look like this:

VP = B - PZ, where B is sales revenue, PZ is production costs.

Under the indicator production costs refers to the cost of goods sold. It is calculated using the partial cost method. In other words, the indicator gross income is formed from the organization’s own profit. To do this, administrative and commercial costs are deducted from it.

Operating profit is formed by subtracting non-production costs from the previous indicator. This is the next stage of calculation.

To calculate marginal profit, analysts subtract variable costs from the amount of product sales. This figure will coincide with gross profit if the company calculates only variable costs.

Formation methods

Can be folded according to one of the existing methods. Each of them has its own advantages and disadvantages. When choosing a method, this must be taken into account.

The direct counting method involves calculating the profit indicator in accordance with the volume of products and goods sold in the period under review. The advantage of this approach is high accuracy. The disadvantage is the need to perform complex, time-consuming calculations. In some cases it is simply not possible to use it.

The normative method is used to substantiate economic plans of various scales. This is also a fairly accurate approach. However, it is advisable to use it only when the enterprise is operating stable.

The analytical method is suitable for establishing the amount of profit in the planning period. When applying it, the influence of internal and external factors on the company’s performance is analyzed. Internal influences include trends through the volume of finished products, as well as an increase in their quality. External factors include reasons for changes in a company’s financial performance indicators that do not depend on the characteristics of its activities.

Distribution

The process of generating and distributing profits takes important place V financial policy organizations. It allows you to organize investment in the company’s activities and satisfy the economic interests of all owners.

The company receives income from its activities. From this amount taxes are paid to the state budget funds. This procedure is established at the legislative level. After this, the company generates a net profit amount. It also needs to be distributed correctly.

It involves dividing the received amount of funds (provided it is positive) into two parts. The first of them is taken outside the enterprise. This is distributed profit. Dividends are paid from it, social support is provided, the financial interests of owners are satisfied, etc. Fines are also paid from these funds.

The second part of the financial result remains with the enterprise. She finances the development of the company. This part of the funds is directed to the retained earnings fund. The reserve and investment fund are formed from it. The first of them allows you to compensate for some deviations in the turnover of funds from the established value. It covers a certain part of the need for financial sources. A reserve fund must be formed in cooperatives, business societies, as well as in rental companies.

Distribution of profits in LLC

May vary slightly for different financial entities. For each of them this process is specified.

For an LLC, the distribution procedure involves mandatory taxation. This procedure is provided for by law and is applied to legal entities.

The part of the profit that remains in the enterprise after paying taxes and settlements with creditors is subject to distribution. Before carrying out this procedure, the corresponding financial statements for the past period are prepared. Distribution decisions are made through voting.

In some cases, profits cannot be distributed. If the new enterprise has not paid its authorized capital in full, this process cannot be carried out. The legislation establishes that the distribution process is possible only for enterprises that have fully paid up their authorized capital upon creation of the organization. Also, profit distribution is not possible for bankrupt companies or enterprises on the verge of bankruptcy.

Distribution procedure in LLC

If the procedure for dividing profits for an LLC is allowed, it is usually distributed in proportion to the share of each participant in the authorized capital. In some cases, prescribed in the charter of an LLC, the financial result is divided disproportionately between the owners.

Where the owner is one person, it happens according to a certain pattern. This does not require a meeting. In this case, the owner of the LLC makes the decision independently. This procedure must be documented. The founder confirms his decision with a signature.

Procedure for a joint stock company

A joint stock company takes place according to the most complex scheme. This mechanism is specified in detail in the charter. It is legally established that such an organization is obliged to form a reserve fund in the amount of 10% of the total amount of the authorized capital.

Since many joint stock companies trade their securities on the stock market, the cost of their capital is constantly changing. If the difference between the nominal and real price of own assets is significant, the size of the authorized capital must be adjusted. When it increases, part of the net profit is directed to these needs.

Owners of preferred shares receive their dividends at specific rates. Owners of ordinary securities participate in voting and determine the amount that will be distributed among them. This fund, in accordance with the share of each participant, is used to pay dividends on common shares.

If the remuneration of securities owners is too high, the company will not develop. New equipment, technological cycles or scientific projects will not be funded. If dividends are too low, the value of the company's shares on the market will fall (as will the value of equity). This is fraught with the occurrence negative consequences for the organization.

Production cooperative

Production cooperatives are associated with the rarity of this form of organization in our country. This business enterprise brings people together to carry out business activities through their joint labor. At the same time, the basis for the functioning of such organizations is not the financial contribution of the participants. Members of the cooperative contribute their labor, not money, to it. The presence of subsidiary liability in this case does not add to the popularity of cooperatives.

Profits that are distributed among participants are also pre-taxed. Fines, debts and other necessary payments are deducted from it. The remainder of the profit is distributed among the members of the cooperative in accordance with their labor or share contribution to the activities of the organization. This procedure must be clearly stated in the charter. If a participant did not make a labor contribution to the development of the cooperative during the reporting period, profit is accrued in accordance with his share.

Unitary enterprise

Analysis of profit generation, as well as its distribution, have some features in a unitary enterprise. Such an organization does not have the right to own the company's property. It is only assigned to this organization. The owner in this case is the state. With his consent, the company's management can dispose of the property entrusted to him.

The net profit of a unitary enterprise is formed after the provision of services or work, as well as as a result of the sale of finished products. This amount is used for further development of the organization, social needs, and maintenance. The standards are established by law. They are being developed by the Ministry of Finance of the Russian Federation.

The rest of the profit is withdrawn by the state and sent to the federal budget.

Financial results management

Increasing the efficiency of profit generation and distribution achieved through proper management and planning. To do this, the management of the organization is obliged to approach any decision regarding the financial result in a comprehensive and reasonable manner. In the process of managing an organization, managers must apply different approaches.

It is also necessary to respect the interests of not only the owners of the enterprise, but also the state. The planning process requires careful consideration of the level of risk. In order to gradually increase the amount of financial results, it is necessary to increase the competitiveness of products.

Having considered how it happens formation and distribution of enterprise profits, You can properly manage this process and eliminate negative factors that hinder development.

Yu.A. Inozemtseva, accounting and taxation expert

How to “spend” your net profit correctly

As is known, the net profit (NP) of a company is distributed by the owners. But whatever their decision, the accountant must reflect it in accounting and reporting. The catch is that in regulations accounting only talks about how to calculate profit clause 83 of the Regulations, approved. By Order of the Ministry of Finance dated July 29, 1998 No. 34n. During the year, it accumulates on the credit of account 99 “Profits and losses”, and when preparing annual financial statements, the amount of net profit is written off from account 99 to the credit of account 84 “Retained earnings”. The credit balance on account 84 is your retained earnings (RRP). But the accounting regulations say practically nothing about how to “spend” the profit; there is only a mention in the Chart of Accounts.

The procedure for distribution of private equity is established by the Laws on JSC and LLC subp. 11 clause 1 art. 48 of the Law of December 26, 1995 No. 208-FZ (hereinafter referred to as the Law on JSC); subp. 7 paragraph 2 art. 33 of the Law of 02/08/98 No. 14-FZ (hereinafter referred to as the LLC Law). At the same time, joint-stock companies are obliged to send part of the emergency fund to the reserve fund, and LLCs can do this if they wish. pp. 1, 2 tbsp. 35 of the Law on JSC; clause 1 art. 30 of the LLC Law. Shareholders (participants) can distribute the remaining profit at their own discretion. Thus, subject to certain conditions, they can use profits to pay dividends in Articles 42, 43 of the Law on JSC; clause 1 art. 28, Art. 29, paragraph 1, art. 30 of the LLC Law. And sometimes owners decide to use emergency funds to purchase new operating systems or pay bonuses to employees. But the Laws on JSC and LLC do not say how to reflect the distribution of NRP in accounting in these cases.

To understand this issue, let's first talk about what IUU fishing is from a reporting point of view.

What is capital and profit

Retained earnings are part of the organization’s capital; it is reflected in Section III “Capital and Reserves” of the balance sheet.

The standards establish rules only for the recognition of assets and liabilities, and capital is the arithmetic difference between them. There are no capital accounting rules in either RAS or IFRS.

In turn, profit is the difference between income and expenses and paragraph 7 IFRS (IAS) 1 “Presentation of financial statements”.

As in the case of capital, the standards establish only the rules for accounting for income and expenses, and profit is a derivative value.

Accounting for income is regulated by a special standard PBU 9/99, and expenses - PBU 10/99. Moreover, the concepts of “income” and “expenses” are also defined using the categories “assets” and “liabilities”.

Thus, an organization’s income is an increase in its economic benefits as a result of the receipt of assets or the repayment of liabilities, with the exception of participant contributions to clause 2 PBU 9/99. As can be seen from the formula for calculating capital, as a result of the receipt of assets or the repayment of liabilities, capital increases.

An organization's expenses, on the contrary, are a decrease in its economic benefits as a result of the disposal of assets and (or) the emergence of liabilities, with the exception of a decrease in contributions by decision of participants (owners of property) clause 2 PBU 10/99. As a result of the disposal of assets or the emergence of liabilities, the organization's capital decreases.

Of course it's only general definitions income and expenses, for their recognition it is necessary to comply with certain conditions established in PBU 9/99 and 10/99, but we will not consider them in this article.

Note that an increase or decrease in the economic benefits of an organization that occurs as a result of transactions with its owners (for example, payment of dividends) is not recognized as either income or expenses. True, this is directly stated only in IFRS, but in fact this rule also applies to RAS paragraph 109 IAS 1 “Presentation of financial statements”.

CONCLUSION

Capital, including NRP, is not the property of an organization, but abstract financial categories that represent the arithmetic difference between assets and liabilities (income and expenses).

We distribute profits

The question arises: if profit is not money, but an abstract indicator of financial statements, then how can it be distributed or “spent” on something? Conventionally, we can say that profit is “spent” when its value in the balance sheet decreases. This happens when paying dividends and creating a reserve fund. Let's consider these and other options for profit distribution, as well as their impact on reporting indicators.

Dividends

The most common way to distribute profits is by paying dividends. As we have already said, the outflow of assets in connection with the payment of dividends is not recognized as an expense of the organization. Therefore, the accrual of dividends to participants relates directly to the reduction of NRP and the capital of the organization, reflected by the posting: debit of account 84 “Retained earnings (uncovered loss)” – credit of account 75 “Settlements with founders”.

To learn how to correctly calculate and pay dividends to LLC participants, read:

Dividends can be paid in money or property, but in any case, payment of dividends will lead to a decrease in the organization’s assets and clause 1 art. 42 of the Law on JSC. When paying in money, the posting will be as follows: debit of account 75 “Settlements with founders” – credit of account 51 “Current accounts”. And the payment of dividends with property (for example, goods) is reflected as a sale by postings:

• debit of account 76 “Settlements with various debtors and creditors” – credit of account 90-1 “Revenue” - revenue from the sale of goods transferred for the payment of dividends is recognized;
• debit of account 90-2 “Cost of sales” – credit of account 41 “Goods” - the cost of goods is written off;
• debit of account 75 “Settlements with founders” – credit of account 76 “Settlements with various debtors and creditors” - the debt to the participant for the payment of dividends is offset.

CONCLUSION

The distribution of profit on dividends leads to a decrease in capital (including line 1370 of the NRP) and assets.

Reserve Fund

As we have already said, JSCs are required to create a reserve fund. Its size must be at least 5% of the authorized capital of the company, and the charter of the joint-stock company may determine a larger size of the fund. clause 1 art. 35 of the Law on JSC. If an LLC creates a reserve fund, its size is determined solely by the charter clause 1 art. 30 of the LLC Law.

The reserve fund is created by posting: debit to account 84 “Retained earnings (uncovered loss)” – credit to account 82 “Reserve capital”. And is reflected in the balance sheet on line 1360 in section III “Capital and reserves”.

Thus, from the point of view of financial reporting, the creation of a reserve fund leads to the redistribution of amounts within section III balance sheet (part of the NRP is, as it were, “shifted” to another item of capital). As a result of such redistribution, the structure of the organization's balance sheet improves. After all, only NRP can be distributed for dividends, and the reserve fund will remain in the capital theoretically forever. Since, despite what is written in the Laws on JSCs and LLCs, reserve capital cannot be spent. And in the balance sheet assets, the reserve fund corresponds to resources (property, money) secured by the organization’s own funds, which is certainly good.

From a financial (but not legal) point of view, the reserve fund can be compared to the authorized capital. It is no coincidence that in the Law on JSC, when it comes to requirements for the structure of the balance sheet (for example, when deciding on the payment of dividends), the reserve fund is mentioned along with the authorized capital. For example, on the day the decision to pay dividends is made, net assets should not be less than the sum of the authorized and reserve capital and clause 1 art. 43 of the Law on JSC.

The reserve fund can be used to cover losses if the owners have made such a decision. On the date of its adoption, a posting is made: debit to account 82 “Reserve capital” – credit to account 84 “Retained earnings (uncovered loss)”. The decision by the owners to repay losses using reserve capital must be disclosed in the notes to the financial statements and clause 10 PBU 7/98. As you understand, as a result of using the reserve fund, as well as when creating it, the organization’s capital will not change. Covering losses with the reserve fund has a rather psychological effect - a “break-even” balance looks more attractive to investors.

In addition, according to the Law on Joint Stock Companies, funds from the reserve fund can be used to repay bonds and repurchase shares. However, in our opinion, this statement does not make sense. After all, paying off bonds (or buying back shares) means paying money to their holder. Consequently, only assets, and not a capital item, can be used to redeem and repurchase securities.

The issue of bonds is reflected in the same way as raising a loan, by posting to the debit of account 51 “Current accounts” and the credit of account 66 “Settlements for short-term loans and borrowings” clause 1 PBU 15/2008.

Accordingly, the redemption of bonds is reflected by the following posting: debit of account 66 “Settlements for short-term loans and borrowings” – credit of account 51 “Current accounts”. As a result, assets and liabilities on the balance sheet simultaneously decrease. This operation does not affect capital items. However, in the commentary to account 82 of the Instructions for using the Chart of Accounts it is stated that the repayment of bonds from the reserve fund is reflected by the posting: debit of account 82 “Reserve capital” - credit of account 66 “Settlements for short-term loans and borrowings”. However, we cannot agree with this. After all, as we have already said, the credit of account 66 reflects the issue of bonds, and not their repayment.

CONCLUSION

Creating a reserve fund at the expense of an emergency and using it to pay off losses leads to a redistribution of amounts within capital items. It is not possible to use the reserve fund for other purposes (for example, to pay off bonds).

Accumulation and consumption funds

Sometimes owners want to use NRP to purchase new operating systems, to pay bonuses to employees, or to charity. Usually in such cases they decide to create so-called accumulation and consumption funds.

The accountant needs to reflect the owners' decision in the accounting. But how to do this, because such funds are not mentioned either in the Laws on JSCs and LLCs, or in the current accounting regulations. Let’s say right away that there is no need to create any funds in accounting.

WE TELL THE PARTICIPANTS

Clean Profits can only be spent on dividends. There is no need to create consumption and accumulation funds from net profit, since real money, not profit, is still spent on acquiring assets.

The very concept of funds at the expense of profit came to us from Soviet accounting. For example, Soviet enterprises created production development funds, the funds of which were used to purchase new equipment. The Instructions for the 1985 Chart of Accounts state that the funds of such a fund intended for the purchase of equipment must be kept in a special account in the bank.

Lead generation. Marketing that sells

Ksenia Andreeva Internet Marketing for professionals

Marketing must produce quantitative results in terms of sales growth. He should directly help find clients, and not just work on brand recognition, good image and advertising brochures. Lead generation is a tactic aimed at generating interested potential customers.

This book is a completely applied manual. Application of the principles and methods described in it will allow you to significantly increase the number of clients and, as a result, sales volume. If there is a well-functioning lead generation system, the company’s management knows: what is the optimal “cost” of one potential client; how long does it take to find it; what marketing steps give the greatest results; how many potential customers can be obtained from a particular activity (for example, advertising in search engines or telemarketing), and how many of them are expected to purchase the product.

With the help of lead generation, a company manages the number of potential customers. As a result, she can objectively influence sales growth and manage her own profits. And all thanks to an effective marketing strategy!

Tax Bulletin No. 3/2013

Absent Accounting, taxation, audit Magazine "Tax Bulletin" 2013

The magazine is an independent monthly financial and economic publication for heads of organizations of all forms of ownership, financiers, accountants, entrepreneurs, employees of financial, customs and tax authorities. The magazine informs about tax legislation, its changes and application in practice, as well as about the activities of the Ministry of Finance of Russia and the Federal Tax Service of Russia and their structural divisions.

Read in the issue: In the “Topic of the Issue” section, an article was published that discusses the issues of paying income tax, in particular the transition from monthly to quarterly payment of advance payments, and vice versa, from quarterly payment to monthly, the advantages and disadvantages of methods of paying advance payments and other questions.

In the “Workshop” section in the article “ Common mistakes when paying bonuses to employees: how to reduce risks,” the author analyzed errors associated with bonuses and the reasons why they arise. The article “Desk audit of reports submitted to the Pension Fund” is posted in the same section.

It suggests once again remembering how to carry out desk audit reporting submitted to the Pension Fund, what violations can be identified within the framework of this form of control and what sanctions can be applied. This issue also discusses the conditions for recognizing mineral resources as subject to mineral extraction tax, problems and prospects for applying a special regime for agricultural producers, features of equipment accounting and other topics.

Citizen and Law No. 07/2010

Absent Jurisprudence, law Citizen and Law 2010

“Citizen and Law” is a scientific and theoretical journal about the fundamental rights and responsibilities of citizens in regulating legal relations with citizens, organizations, as well as in protecting violated civil rights in courts and other authorities. The magazine contains regular topical sections covering key issues of legal relations - labor, financial, tax, criminal, environmental, family, as well as pension and social security, intellectual property protection, consumer rights protection.

The publication reflects the latest trends in the development of legal sciences, society and the state, and is engaged in the popularization of law and the promotion of social and legal consciousness. In the issue: Questions of theory About the understanding and significance of the legal system Taxes and fees Problems legal regulation accounting and reporting on the profit tax of an organization Natural resource law Forest management in Russia: regulation of lease relations Anti-corruption law and order Conflict of interest begins with a gift?! Discussion Atypical objects of real rights in modern Russian civil law: review and critical analysis Scientific reports Activities of authorities state power and local government under control and supervision and much more.

This book introduces you to the basics of creating decentralized applications and the principles of their development using the example of several profitable applications. The reason for this commercial bias is that profit (benefit) is the basis of a successful, reliable and promising decentralized application.

Use them as a springboard to creating your own application. We are heading towards openness and decentralization!

Systematicity in everything. Versatile efficiency technology

Sam Carpenter Management, recruitment

The Art of the Deal

Brian Tracy Personal growth Absent

Brian Tracy's book "The Art of the Deal" is rightfully considered one of the best sales guides. In it you will find a lot of valuable tips and tricks that will allow you to make the best deal of your life - and more than once! The value of Brian Tracy's books is that the author always backs up any recommendation with a life example, either from his own practice or from the work of his clients.

A popular business coach really gives effective recipes. And anyone who really dreams of realizing themselves can use them! After listening to this book, you will learn: – What a sales agent or sales manager should be like in order to attract the attention of clients; – Subtleties of psychological influence on the buyer; – How to respond to objections; – The most effective sales closing techniques; – How to increase productivity and profits.

By the way, this book may be interesting and useful not only to those who sell, but also to those who buy! You will learn all about the seller's tricks, learn how to successfully resist them and negotiate the deal in your favor! Listen to the book “The Art of Making Deals” and make really big money! The 80/20 Principle in Sales Untapped Potential A Simple Way to Increase Your Income Obstacles to Sales Why Persistence is Important Why Making Friends with the Client is Important Qualities of a Successful Salesperson Honesty Action Plan According to Goals Psychological Preparation The Role of Reading and Listening to Sales Materials Winners and Losers in Sales Buyer Needs Six Ways to Determine Buyer Needs Is Product Quality a Buyer's Basic Need Spotlight Where You Can Apply Creativity Sales Strategy Selling to Non-Buyers The Twenty Ideas Method How to Engage a Customer Making an Appointment with a Customer Effective Presentation Appearance seller behavior Effective techniques in sales Five personality types of the buyer The right approach to the client Preparing a presentation How to build a conversation with the client Involving the client in the presentation The power of suggestion Careful planning of the stage of completing the sale Difficulties in making a purchasing decision The main obstacles to completing the sale Buyer objections and responses to them The main objection of the buyer Objection as a reason to buy a product A method of conducting sales on an increasing basis Invitational method Questioning the price of a product If the client does not agree with the price Method of a surprise attack Method of obtaining consent and an alternative method Summation useful properties product Ben Franklin's Method of Use real story as an example Recommendations from former clients Time management basics Time stealers Benefits effective use time The importance of constant learning Ten rules for achieving success in sales Why each of us is a genius.

Hard direct marketing. Make the buyer take out his wallet

Dan Kennedy Marketing, PR, advertising Absent

Marketing and advertising in small and medium-sized businesses most often do not bring any effect. Huge money is wasted, and opportunities are not used. No matter how big companies advertise, it won't work for you. Your salvation is direct marketing. And now, thanks to this book, you can get into the kitchen the best specialists and apply their confidential, unpublicized strategies to your advantage: uncompromising business guru Dan Kennedy and his team of the best professionals reveal all the secrets and share real examples of marketing moves from their own practice! This book is primarily for owners of non-virtual businesses: with shops, showrooms and offices; restaurants, dental offices, auditing or funeral offices, that is, businesses that do not have huge marketing budgets, but have an understanding of who needs their goods or services and why.

Read in the issue: March 8, 2015 signed the federal law No. 42-FZ “On amendments to part one Civil Code Russian Federation" In particular, he made changes to the conceptual apparatus and introduced a number of new articles. The law touched upon issues related to the fulfillment of obligations, as well as contract law, guarantees, and the issuance of guarantees.

Read about these changes in the “Topic of the Issue” section. The section “Letters from departments” presents a review of letters from the Ministry of Finance of Russia and the Federal Tax Service of Russia for the period from March to April 2015. In it, the author analyzed the explanations of the departments, which discuss the following issues: on the taxation of payments made to employees upon their dismissal with personal income tax, on the procedure personal income tax taxation of bonus payments, accounting for income tax purposes travel expenses and others.